KARACHI: The burning problems of the common man, business & industrial community whether small or large are mounting day by day, said Ateeq ur Rehman, economic & financial analyst.
He said the continues jump of US dollar against Pak rupee has become upsetting as it is damaging the market equilibrium by disturbing the importers through huge difference of finances.
The gap in foreign exchange is increasing the cost of plant & machinery, spare parts and taw material. Thus it is increasing the cost of production and inflation, too.
He added that the persistent jump in the electricity rates has disturbed the household, business and industrial community to highest extent. It is leading to highly negative effect on our exports. Small-scale industries and SMEs are being badly neglected and many of them almost are dead.
Industries are being devastated by most expensive electricity resulting into severe impact on production activities. A flood of unemployment has been created.
Such a high cost of electricity is surely unbearable by majority of masses. Rise in the price of fuel has cascading effects on transportation cost, be it public or goods transport.
Public transport fares are increasing day by day and goods transport from farm to market is becoming expensive day by day. Under such rates of fuel commuting/ travelling fares have become painful for a common man and transportation of goods has become so expensive that it is just unbelievable, said Ateeq.
Huge rise in the interest rate is like rubbing salt into the wounds of the common man and business community, as for them borrowing has become a distant dream.
Inflation is become uncontrollable. Never ever in the history of Pakistan we experienced such indexes of rising trends of cost of goods & services. It’s like a thunder with gusty winds.
People are hesitant to go for shopping. Once Pakistan was the cheapest country in the world, but now it has become a history, he said. We need a road map, unity, line of action and good governance to overcome all these serious problems which have already crushed our lives, he concluded.
Copyright Business Recorder, 2023